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UID:ba03cac1c6ef9289a04ca5734de088bc
CATEGORIES:Seminars
CREATED:20250403T092917
SUMMARY:Steven Ongena - University of Zurich
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nThe Impact of Pay Transparency on Bank Compensation, Employment, P
 erformance and Opacity\n\n\n\nAbstract:\nHow does pay transparency affect b
 ank opacity? We answer this question by studying the impact of the introduc
 tion of pay transparency laws across nine U.S. states with both advert-, in
 dividual- and bank-level data. We find that after the introduction: (1) mor
 e adverts include pay information; (2) bank employees, especially loan offi
 cers, leave for non-banks as wages are higher there; and (3) banks respond 
 to these departures by increasing their own employee compensation. The depa
 rtures of experienced employees and catch-up in wages precede more bank ris
 k-taking and lower bank loan performance, and dispersion in loan loss provi
 sioning!.\n\n\n \n
DTSTAMP:20260525T203208Z
DTSTART:20251127T163000Z
DTEND:20251127T180000Z
SEQUENCE:0
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